HomeMy WebLinkAbout1950-B-1106 78
ORflINANGE N __B=1:1_06
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for
the payment of the cost of the improvement in Local Improvement District
No. 657, and providing for the issuance of bonds with coupons attached
for the payment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That thereis unpaid the sum of $20,330.22 for the improvement
made in Local Improvement District No. 657, as created and established by Ordinance
No. B -9.91 of the Ordinances of the City of Yakima, which shall be paid in 10 equal
annual installments, the first installment to be paid on or before the 12th day of
January,. 1951, with interest on the whole unpaid sum at the rate of 4 per cent per
annum, and each year thereafter one of such installments together with interest there-
on and on the installments thereafter to become due at the rate of 4 per cent per
annum shall be due and payable or or before the 12th day of January in each year_,
and shall be collected in the same manner as is provided by law and the ordinances
of the said City_ .
Section 2. If any of the said installments of pr•iniepal or interest
are not paid or or before the 12th day of January of each year in which the same
shall be payable, as provided in Section 1 hereof, the same shall thereupon become
and be delinquent and shall be collected as provided by the laws of the State of.
Washington and the ordinances of the City of Yakima, and said delinquent assessments
shall bear interest at the rate of 4 per cent per annum until paid and be subject to
a charge of 5 per cent penalty upon both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the cost and expense
of said improvement in said Local Improvement District N5. 657, there shall be issued
bonds of the District in the sum of $20,330.22, said issue to consist of 40 bonds in
the denomination of $500.00 each and one bond of the denomination of $330.22 to be
numbered from one upwards oonsecutively, and shall bear interest at the rate of 4
per cent per annum, payable annually on the 12th day of January each year, the
serveral .installments of interest to be evidenced by coupons attached to said bonds
and both principal and interest shall be payable at the office of the City Treasurer
in the City of Yakima,Washington.
Section 4. The bonds provided for hereinshall be substantially in the
form prescribed by Section 18 of Ordinance No. A -192 as amended of the ordinances of
the City of Yakima, Washington. They shall be issued under date of February 10th,
1950, and approximately 1 /10th of said bond issue shall be payable or or before the
10th day of February of each year thereafter, to and including the 10th day of
February, 1962.
Section 5. This ordinance is one relating to local improvements or
assessments therefor and shall become effective immediately upon its passage, approval
and publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 20th day of
February, 1950.
ATTEST: PEARL BENJAMIN (SEAL) N. K. BUCK
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -1106 entitled, "AN ORDINANCE fixing the time of delinquency of in-
stallments of assessments levied for the payment of the cost of the improvement in
Local Improvement Distiret No. 657, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof," as passed on this
20th day of February, 1950, and that same has been published as required by law.
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